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Cardano (ADA) Named One of the Most Undervalued Cryptocurrencies by Weiss Crypto Ratings

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Wed, 12/18/2019 - 17:50
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Alex Dovbnya
Cardano could be the real dark horse in the cryptocurrency industry, according to Weiss Crypto Ratings
Cardano (ADA) Named One of the Most Undervalued Cryptocurrencies by Weiss Crypto Ratings
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Weiss Crypto Ratings, a crypto division of the eponymous financial ratings company, recently put Cardano (ADA) in the spotlight by naming it one of the most "deeply undervalued" digital assets. It states that the price of ADA doesn't reflect the project's project's fundamentals, but the agency failed to elaborate on the rationale behind the bullish call. 

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A soft spot for Cardano 

Back in November, Weiss concluded that Cardano was "vastly superior" to EOS. The latter fell out of the agency's good graces due to its centralized governance model. 

Weiss also praised Cardano for thoroughly researching and testing new features before they get rolled out. 

ADA received a B+ for technology and adoption while its risk-reward mark is only E+. According to Weiss, the project's technology is excellent but its price performance is very weak.  

Cardano
image by weisscrypto.com

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Moving towards decentralization 

After numerous tedious delays, Cardano is finally moving forward with the Shelley era to implement its vision of a decentralized public blockchain.   

As reported by U.Today, Cardano recently released the Daedalus Rewards wallet for staking ADA tokens after its incentivized testnet went live three days earlier. 

Cardano-focused research and development company IOHK revealed that they had managed to onboard 120 staking pools on the first day

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.